NOW is the time to Open a Billiard Room

geno

geno

AzB Silver Member
Silver Member
Have you ever just thought that if I only knew when the right time to buy a stock was I would have been rich???

This is your NOTICE. Right NOW is the time to open a billiard room.

Why NOW, you ask..........

Right NOW all over the country land owners, strip mall owners and free standing building owners are just figuring out that it is more profitable to have a tenant (any rent paying tenant) than to wait for the high price they have been asking per square foot at the locations they own. It used to be a nice tax right-off and profitable in the long run for the wealthy owners to keep their spaces open and wait for the right tenant that would bow to the demands of the high SQ Ft prices and Triple Net demands.

Well, THE TIDE HAS TURNED

I got news for you sunshine. The same owners that held pool rooms back from opening because the SQ Ft price was too high (and we all know pool rooms need lots of SQ space) are in jeopardy of losing their properties to the bank because they can not make the nut on the mortgage, AND they have figured out that business-breeds-business and they need there properties to have high traffic to support the other business in the properties they own so they can keep there tenants. Now, the same owners have come to the conclusion that it is better to have something rather than nothing to help them keep their properties.

IT IS ALL IN THE NEGOTIATION.......

Here is my advice.

RIGHT NOW you (the possible tenant) has the upper hand in lease negotiations. You are a HARD CORE Hustler on the ACTION table, use those same skills when negotiating your lease. Do not be rude but be blunt, know you are in a position to have them choke on the long shot.
Lately, I myself have been trying my hand a negotiations with property owners and here is what I have found to work.

BE Excited as this creates a level of excitement with the prospective landlord. Let him/her know you are interested so you can begin negotiations ASAP before somebody else has the bright idea and blocks you. Being excited and very interested may not give you the upper hand when in negotiations if you were not the HUSTLER that you know you are. Use this to your advantage, you (the Lessee) now have created an emotional level of control over you opponent (the LEASER) and we all know how valuable it is to be in control of the game. From here you can now take that control to many different levels to get to were you want to be to make this work.

FREE RENT,,,,,,, HUH? Do not be surprised if you ask for 2-6 months of free rent in the beginning and the landlord agrees. In fact, most already do this, it is called build-out time. However, lately I have noticed that the owners are more willing to give you more free time just to get you in there and up and running. ASK< the worst they can do is say NO then you can move on to the next location you are interested in.

GRADUATED RENT, once you have found the amount of FREE rent you are looking for consider asking for graduated rent. Example, $2K for the next 6 months after the FREE rent, Then $2,500 for the next 12mos then $3,000 per month for the remainder of the lease.. The graduated rent will give you more money to get the things done in the location you want to do. Spend the savings on improvements as they will pay off in the long run.

Ooops, I ran out of time. Good luck in your hunt.

Remember, NOW IS THE TIME !
 
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geno said:
Have you ever just thought that if I only knew when the right time to buy a stock was I would have been rich???

This is your NOTICE. Right NOW is the time to open a billiard room.

Why NOW, you ask..........

Right NOW all over the country land owners, strip mall owners and free standing building owners are just figuring out that it is more profitable to have a tenant (any rent paying tenant) than to wait for the high price they have been asking per square foot at the locations they own. It used to be a nice tax right-off and profitable in the long run for the wealthy owners to keep their spaces open and wait for the right tenant that would bow to the demands of the high SQ Ft prices and Triple Net demands.

Well, THE TIDE HAS TURNED

I got news for you sunshine. The same owners that held pool rooms back from opening because the SQ Ft price was too high (and we all know pool rooms need lots of SQ space) are in jeopardy of losing their properties to the bank because they can not make the nut on the mortgage, AND they have figured out that business-breeds-business and they need there properties to have high traffic to support the other business in the properties they own so they can keep there tenants. Now, the same owners have come to the conclusion that it is better to have something rather than nothing to help them keep their properties.

IT IS ALL IN THE NEGOTIATION.......

Here is my advice.

RIGHT NOW you (the possible tenant) has the upper hand in lease negotiations. You are a HARD CORE Hustler on the ACTION table, use those same skills when negotiating your lease. Do not be rude but be blunt, know you are in a position to have them choke on the long shot.
Lately, I myself have been trying my hand a negotiations with property owners and here is what I have found to work.

BE Excited as this creates a level of excitement with the prospective landlord. Let him/her know you are interested so you can begin negotiations ASAP before somebody else has the bright idea and blocks you. Being excited and very interested may not give you the upper hand when in negotiations if you were not the HUSTLER that you know you are. Use this to your advantage, you (the Lessee) now have created an emotional level of control over you opponent (the LEASER) and we all know how valuable it is to be in control of the game. From here you can now take that control to many different levels to get to were you want to be to make this work.

FREE RENT,,,,,,, HUH? Do not be surprised if you ask for 2-6 months of free rent in the beginning and the landlord agrees. In fact, most already do this, it is called build-out time. However, lately I have noticed that the owners are more willing to give you more free time just to get you in there and up and running. ASK< the worst they can do is say NO then you can move on to the next location you are interested in.

GRADUATED RENT, once you have found the amount of FREE rent you are looking for consider asking for graduated rent. Example, $2K for the next 6 months after the FREE rent, Then $2,500 for the next 12mos then $3,000 per month for the remainder of the lease.. The graduated rent will give you more money to get the things done in the location you want to do. Spend the savings on improvements as they will pay off in the long run.

Ooops, I ran out of time. Good luck in your hunt.

Remember, NOW IS THE TIME !
Click to expand...

Just curious, do you own a pool room?
 
Right on Geno. I agree wholeheartedly! In times like these, people are looking for things to do close to home for a reasonable price. Everyone is cutting down on pricey vacations, they simply can't afford to travel. The cost for 2-4 people to play pool for a couple of hours (and have snacks) is comparable with going to a movie and can be a lot more fun.

No wonder why the APA is only growing in these hard times. Something to do, a night out to socialize and have fun, and you get to be actively involved. Hard to beat that.

P.S. I've owned two rooms outright and been partners in two others. I still find myself looking at vacant buildings and thinking pool room thoughts. If anyone wants to open a room and doesn't know how to go about it, you can contact me. I can show you all the ropes, what to look for and what to look out for. I have assisted in opening six rooms that I was not a partner in, from negotiating the lease, buying the equipment, designing the lay-out, getting the proper licenses, setting prices and deciding on a food menu, and on and on.
 
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Jay, you should also mention that right now is a great time to buy equipment. With all the rooms that have closed in the past 5 years there are tons of great deals out there on Pool Tables and basically all the equipment you would need to run a successful pool room, bar and/or restaurant.

jay helfert said:
Right on Geno. I agree wholeheartedly! In times like these, people are looking for things to do close to home for a reasonable price. Everyone is cutting down on pricey vacations, they simply can't afford to travel. The cost for 2-4 people to play pool for a couple of hours (and have snacks) is comparable with going to a movie and can be a lot more fun.

No wonder why the APA is only growing in these hard times. Something to do, a night out to socialize and have fun, and you get to be actively involved. Hard to beat that.

P.S. I've owned two rooms outright and been partners in two others. I still find myself looking at vacant buildings and thinking pool room thoughts. If anyone wants to open a room and doesn't know how to go about it, you can contact me. I can show you all the ropes, what to look for and what to look out for. I have assisted in opening six rooms that I was not a partner in, from negotiating the lease, buying the equipment, designing the lay-out, getting the proper licenses, setting prices and deciding on a food menu, and on and on.
Click to expand...
 
One of the problems of opening a room is the local ordinances. It is easier to open a strip club than a pool hall in some areas.
 
TheBook said:
One of the problems of opening a room is the local ordinances. It is easier to open a strip club than a pool hall in some areas.
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Then look in other areas because you probably wouldn't want to open a pool room in an area that doesn't want you.
 
The problem is...

geno said:
Jay, you should also mention that right now is a great time to buy equipment. With all the rooms that have closed in the past 5 years there are tons of great deals out there on Pool Tables and basically all the equipment you would need to run a successful pool room, bar and/or restaurant.
Click to expand...

You better have cash to pay for all of your equipment, because no banks are making loans to open pool halls right now...
 
I have always heard from owners over the years that their business was best when the economy was bad.

Negotiating for the purchase of a stand alone building with the owner carrying the note is even more attractive.
 
yup, within he next year is prime time to open. buy a cheap building, used but good equipment and you will make $$$.
 
I Believe I read in Hustlers, Beats, and Others by Polsky, that historically, Pool/Billiard halls did tend to thrive in tough economic times. I'm guessing for some of the reasons mentioned. Unfortunately, as I'm sure you'd find today, some are filled with patrons that really don't spend any money. I know guys that will play a tournament, spend ALL DAY playing and not even eat a bag of chips AND order water from the tap... I figure if it's that tight you should probably have just stayed home. So... People have to spend money for it to stay open not just show up. The summer electric bills here in Texas on 10 or 15,000 square feet would absolutely eat your arse. Gotta sell a lotta crown and cokes to cover that. BTW I'd LOVE to open one...
 
Mr Hoppe said:
You better have cash to pay for all of your equipment, because no banks are making loans to open pool halls right now...
Click to expand...


I know a guy that just bought out a closed billiard room. He got 8 tables, 6 were GCIV's and some bar boxes + he got all the lights, balls, cues, seating tables, booths, beer coolers, kitchen equipment + anything that wasn't part of the building structure for under 5 grand.

There are definitely deals to be had out there if you have the cash and are willing to take a shot.

He is currently in negotiations to open a pool room in his area.

I know the following for a fact: He is looking at an 8,000 SqFt free standing building that has been vacant for 2 years. The owner offered him 4 mos free rent which he negotiated to 6 mos free rent then $3,000 a month for the next 6 mos and $3,250 per month for the next 12 months, then $3,500 a month for the following 10 years. The building is only 1/2 mile from a major state rt and 1.5 miles from a major interstate. The absolute NUTS was that the previous owners left all the kitchen, bar and restaurant equipment + it has a Band box and dance floor already installed.

The downside is that it needs a major cleaning and a roof replaced but that is why the owner was willing to give the extra free rent cause the tenant is replacing the roof. I believe all that needs to be done now is a signature on the dotted line to get the project going.

Oh, This guy also had the local building, fire and health inspectors in the place to check it out. The city provided this service for free because it is to the cities benefit to have a business in the building instead of a vacant location. The Electric, Gas and Water companies also turned on all the services for free for 1 week during the inspection.

Right now it's not just the Landlords that are desperate it is also the local municipalities. Everyone is willing to work together to make things happen.
 
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I frequently find myself eyeing a few buildings I pass almost every day that have been vacant for some time and thinking about what i would name the pool room, how many tables and what sort of atmosphere i'd shoot for... then i realize, i don't have a million dollars in the bank to afford the building, rehab/construction, repair, equipment, decorations, staffing, kitchen, etc, to actually do it. *sigh*

There is a guy who already owns a building and has a pool room in half of it that is selling it. I'm half tempted to look into it; it's got business, and even if the pool room fails, I'd still own the building and all the tables, etc. The place has been around for like 30 years, not sure why now he's selling; aside from it's being empty most of the time. I think that's because he does zero advertising, no upkeep and the tables are too close together.
 
I think unless you have a killer deal on rent then pool cannot be your only focus, you need other revenue streams.
Most of the rooms that I have seen open and go under quickly were in prime retail locations, you simply cannot afford that kind of rent when you are only generating income seasonally and limited hours in a day.
I had a room with 20+ tables and a bar but the only thing that kept us through the summer were slot machines and private functions. Some room owners refuse to expand their horizons and look for revenue in unexpected areas, you need to be creative.
 
That's wonderful if you can get a great deal on rent because of the economy. But the bottom line is if you can justify the business to support coninuing to pay that rent... then it still isn't a good idea. If you don't have the backing to overcome zero profit for AT LEAST a year... then it still isn't a good idea. In this economy, any new business venture is inherintly risky.

Greg
 
strip club...

"One of the problems of opening a room is the local ordinances. It is easier to open a strip club than a pool hall in some areas."

If its easier to open a strip club in your area, OPEN A STRIP CLUB......they make money honey! And the perks, ohhhh the perks....LOL
 
Better yet... a strip club with two nice new 9 ft Diamonds just for you and friends to shoot on!!!! Make the dough off the girls and you and your friends have a place to play in style!!!!

I think I just realized my ultimate dream. :):eek::)

Greg
 
Good post Geno.I agree with your points.Unortunately as of,not long ago,some building owners were still stubournly holding out and building codes can still make it real hard to open a pool room.IMO though there are so many empty locations right now that It is possible to get a great deal if you keep at it.

TheBook- maybe open a strip club and then quietly start brining in pool tables.
 
If I could afford it (I know, everyone says that!)- I would definitely open a pool hall in Bellingham. Time and again I have imagined how nice it would be to have it located at this place, that corner, etc... but I haven't a clue about running a business since I've worked in the public sector for so many years. I'm sure I could ruin the business just fine, though.

Oh, well- it's nice to dream- I would have to win the lottery- and I don't gamble... sigh.
 
Philthepockets said:
I think unless you have a killer deal on rent then pool cannot be your only focus, you need other revenue streams.
Most of the rooms that I have seen open and go under quickly were in prime retail locations, you simply cannot afford that kind of rent when you are only generating income seasonally and limited hours in a day.
I had a room with 20+ tables and a bar but the only thing that kept us through the summer were slot machines and private functions. Some room owners refuse to expand their horizons and look for revenue in unexpected areas, you need to be creative.
Click to expand...

Yep, video poker is the next big thing on the horizon.
 
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